There are many books about real estate investing. In fact, a quick search for the term on Amazon (NASDAQ: AMZN) yields over 10,000 results. That must mean everything a property investor would want to know about has been covered, right? Well, according to a recent real estate investment thread on Reddit, that's not the case.
Why real estate books still matter to investors
Even in the digital age, when so much information about virtually any topic under the sun is available via internet search, books are still an educational goldmine. Tax laws may change over time and real estate stocks and REITs, or real estate investment trusts, rise and fall on a daily basis, but basic principles of investing remain the same. And it's great to have these books within reach on a shelf to read up on again and again.
While there's a wealth of information to be learned from real estate investing books, some topics are glossed over, with some skipped completely. Here are some subjects those investors on Reddit would like to see information on.
Real estate vs. other asset classes
It's not much of a shocker that real estate investment books focus on real estate investing. The assumption with these books, though, is that the reader has already made the decision that property investing is the way to go for building wealth. But some readers want more assurance they're choosing the right asset class. So instead of diving right into property investing, they'd like to see more real estate books -- aside from general investing ones -- that start off with a discussion on how real estate stacks up to the asset classes, like bonds and equities.
How to recover after a bad investment
Real estate investors want to follow in the footsteps of successful real estate investors. Indeed, many books out there lay out the details of their top deals to be followed by other investors for similar results. But what about books that walk you through how to recover from missteps? Every investor has made mistakes, but they're often just a mere mention in their books. Happily-ever-after investor stories might be more fun and inspiring to read, but investors also want to know how to recover when things don't go according to plan.
Inspections and appraisals
This important part of the real estate buying process usually gets a cursory writeup in many real estate books. But inspections and appraisals are anything but cut-and-dried, and inexperienced investors often don't know how to deal with a failed home inspection or when an appraisal comes in low. A book that talks more about this would be required reading for new investors.
How to make it work as a part-time investor
Many books are written with an eye toward building multiple passive income streams so you can make property investing your full-time career. But what about those individuals who want to get started with small real estate investments -- and stay there? There's an audience of investors looking for guidance on how to build and maintain real estate investing as a side gig while they pursue another 9-to-5 job or other interests.
Real estate taxes
"Hire an accountant" is usually the refrain most investors hear when they start to ask questions about tax deductions and income reporting. And it's good advice. But some investors want to know a little bit more about real estate taxes other than that it's important to pay them. A book that straddles the line between real estate tax primer and an Accounting 101 textbook could be just the ticket.
The bottom line -- and an opportunity for experienced investors
Even with the extensive library of real estate investing books available, some readers feel the above topics are passed over too quickly. If you're an experienced real estate investor with a penchant for writing, you might have another business opportunity -- this time as an author -- if you have knowledge to share on any of these topics.